GST Council proposes court order before arrests and expanded ITC
Business
The latest GST Council meeting in New Delhi is looking to shake up how taxes work in India.
Key proposals include requiring a court order before anyone can be arrested for tax evasion, and letting businesses claim input tax credits (ITC) on more expenses, like employee insurance and telecom towers.
These changes aim to make the whole system data-driven.
GST Council seeks streamlined machinery refunds
Another big move: the council wants to streamline refunds on plant-and-machinery taxes, which should help companies free up cash faster.
For small businesses, there is talk of switching to annual returns and making it easier to register in multiple states.
Overall, these updates are meant to cut red tape, reduce legal hassles, and create a friendlier environment for doing business.